Bitcoin Casino: Get to know the unique payment method
The cryptocurrency Bitcoin is one of the most exciting topics of all. Few understand it, many fear it and some see it as the Payment system the near future. There are many things that set Bitcoin apart from current payment systems.
First and foremost, Bitcoin is traded purely digitally, there are no coins, no bills, a Bitcoin is not physically measurable, but purely digital. This is what both the hopes and fears are based on especially when it comes to the security and durability of the currency. With Bitcoin, payment transactions are completely detached from intermediaries such as banks and take place only between two users.
These are the casinos where you can pay with bitcoin
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How does the cryptocurrency Bitcoin work and what are the advantages of the currency? - we have the answer
The most common question that customers ask is how does the deposit with the provider Bitcoin work at all? Is it difficult or do you need complicated BTC basic knowledge for this? In general, some people are afraid, because you always hear that passwords disappear and therefore cryptocurrencies as well.
Don't worry, there are also BTC e-wallets where you can store them securely. Those who do not hoard cryptocurrencies anonymously on the computer, do not have to be afraid. You virtually park them in an e-wallet. This wallet has an address and this is then needed at the online games BTC casino provider for deposit and withdrawal. Basically, the payment works like with paypal, only easier, we find.
Currently our payment system is supported by the banks. In the future, this might not be the case with Bitcoin, because the new system is decentralized, which means the Bitcoin database, where all transactions are recorded, is co-managed by all connected computers. To use Bitcoin, the user must be connected to the Bitcoin network, for which he needs a working Internet access.
Since all Bitcoin users share a network and in the future huge amounts of data will be present in this system, transferring money can sometimes take 10 minutes or longer. However, it is possible to speed up payments by paying an additional fee.
Bitcoin - The Virtual Monetary Unit: How do they actually come into existence??
Where do cryptocurrencies come from and where do they go to? Also a question that one would like to know answered. We won't type the whole story here, because there is enough reading on the Internet. The fact is, unless you are a miner, you don't have to worry about that. You buy bitcoin regular and sell them. As if you were holding cash. No one really knows how our banking system works either. Nevertheless, we have money and we spend it. This is also how you should look at cryptocurrencies. Nevertheless we do not want to withhold the info from you. Read a bit about the topic in the next section, if you're interested. The hints are interesting, we think.
I'm sure you're now wondering how bitcoins are created. Each participant can create Bitcoins themselves, which are then added to their Bitcoin e-wallet. Since the maximum number of Bitcoins in circulation is limited, the process is increasingly slow. Once this maximum number is reached, bitcoins can only be exchanged, not printed by a central bank as our current money is done. The creation of new Bitcoins was originally introduced to make the system work in principle, as each computer connected to the network performs calculations necessary to hold the transactions. So, as a reward for the computing power provided, there are still bitcoins to this day.
As you probably expect, a BTC is nothing more than a pair of bits transferred between two computers. To ensure security, all such transactions are stored decentrally and the owner of the Bitcoin is stored encrypted in the Bitcoin itself. The fact that each transaction is recorded by a digital signature, it is possible to trace at any time who is the rightful owner of the cryptocurrency.
The question of questions: Can cryptocurrency be used in casinos??
More and more online casinos providers are jumping on the cryptocurrency bandwagon, so you can use Bitcoins there as online casino deposits and withdrawals. Pure bitcoin casino hardly exists with us. Whether this will change in the future, we will see. In any case, many users already use Bitcoin as a Bitcoin online games casino deposit option. It makes sense and fun. Especially for those who save up a lot of cryptocurrency types. However, one should pay attention to the value. If the rate is particularly low, it is not worth investing in the casino. Who plays with crypto currency, should always pay attention to whether the value is worth it at all.
Some casino providers already offer support for the cryptocurrency, others want to check the legitimacy first and therefore rely on familiar payment methods such as credit cards, e-wallets and bank transfers until further notice. It is best to inquire directly at your Bitcoin online casino if Bitcoin is supported.
At the moment, at least, it looks like more and more casinos are supporting the new cryptocurrency payment method. However, at this point, no one can tell you if cryptocurrencies will completely replace our current payment system in the future. But one thing is for sure: you will find out when the time comes!
Can you play anonymously as a player in a Bitcoin casino?
Some players would like to gamble anonymously. Preferably in such a way that finance does not notice it. Unfortunately, we have to inform you that it is not possible to play anonymously. For the reason that reputable online casinos are licensed. Whoever registers in a reputable casino, must logically also provide data about themselves. Casinos want to see copies of IDs to prevent money laundering. That's why anonymous gambling, as many would like it to be, unfortunately won't work the way they want it to.
Of course, there is one or the other Bitcoin online casino where you can play anonymously. But with these you will not get much choice of games. The good games all come from reputable online casino providers and they offer their titles only in licensed casinos. Those BTC casinos in turn want your data. As you can see, it is a vicious circle. Also, we recommend you to play only in licensed casinos yourself. This has a specific reason.
Do you want to just hand over Bitcoins to any Bitcoin online casino company without knowing who is behind it?? It is quite possible that your money will be gone tomorrow. For this reason alone you should refrain from playing anonymously. Your data not only gives security to the casino, but also to you. Players must not forget.
Do you get a welcome bonus at the cryptocurrency online casino when you deposit with bitcoins?
On the welcome bonus in the Bitcoin online casino hardly a player wants to play slots without. The good news, yes, even with BTC you will receive BTC bonuses in most cases. However, this depends on the casino whether there are bonuses at all or not. BTC are accepted like normal payment methods. You receive a bonus in $ / Euro or in Bitcoin and can play with it. In some casinos, their welcome bonus BTC will be converted into the $ or Euro. But there are also pure Bitcoin games where you can gamble directly. This is equally dependent on the Bitcoin online casino provider that offers the games.
Same whether you get the online casino bonus on a bitcoin or real money deposit. The bonus rules are almost everywhere the same. You have to wager the bonus or free spins several times before a withdrawal is possible. For example 40x. With 100 $ this would be 4000 $. Only after that you can withdraw your money. There are also other rules that everyone should follow.
Sometimes the bonus is only valid on certain cryptocurrency online casino slots and games, or titles are excluded. In live casinos, where you play roulette, blackjack and poker, the BTC bonus usually does not apply at all. Unless it is a special live casino bonus for roulette. Otherwise, play the free spins and the bonus on top slot machines. Read in advance the Bitcoin online casino terms and conditions, confirm them and you are well informed. Who does not do this, risks as said the Bitcoin online casino bonus money and it would be a pity for it.
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Frequently Asked Questions (FAQ)
Where can you buy bitcoins as a player? Does BTC exist legally?
You can buy Bitcoins legally and securely at various sites on the Internet. There is also the possibility to buy some at slot machines. Such are placed in some shopping centers. They are also sold at the post office in some cases. The best way is to take a look at the search engine and enter Bitcoins + your city. Then you will find information that will help you further. Meanwhile, Bitcoins are already popular. They are recognized and available in many places.
When should you buy a bitcoin? Which value is the best?
As everywhere, the lower the purchase value, the better. At the moment it is way down. The only question is, will it go down further or will it go up again?. A risk remains with Bitcoins unfortunately always. That is why the purchase is always associated with risk. Listen best to your gut feeling and observe the Bitcoin market, if you want to acquire one. This is the best way to go.
Do you have to buy a whole bitcoin?
No, of course you can also buy parts. Since one partly over 10.000 $ costs, hardly anyone will afford a whole Bitcoin just like that. If you want to purchase one, just enter the $ amount. For example $ 100. You will then be credited with the converted Bitcoin value. You can also use this to make a deposit in succession.